- AKA has admitted that Beam Group was struggling financially in the months before he closed it down
- Rumours have been running rampant since his company shut down and he has come out to clear the air
- AKA revealed that his business partner bought an expensive car with the company’s money which lead to the collapse of Beam Group
Rumours have been circulating since AKA closed down his company, Beam Group and the rapper has finally revealed that he shut it down after his partner bought a brand-new Maserati with the business’ money.
Earlier this year, AKA announced that he will be walking away from Beam Group, however, he didn’t give much reason as to why he was doing so.
Briefly.co.za previously reported that AKA simply seemed to brush it off by saying that he is the business, so he doesn’t need to keep Beam Group going.
Now the truth has come out that the company was in fact battling to cover its costs, especially since Prince Nyembe used a large sum of money to buy himself a luxury car.
At the time of Beam Group’s closure, it was speculated that the company was struggling financially and the business partners were feuding but neither AKA nor Nyembe confirmed the claims.
Beam Group officially closed its doors in September, but fortunately some of the staff have been hired by the company that has taken over their premises. In an interesting turn of events, this business is owned by Nyembe.
The Citizen reports that the company has not been paying their taxes during its lifespan, so now AKA and Nyembe are liable to pay close to R2 million to SARS.
It is also reported that some staff members have not been paid their full salaries since the company closed however, AKA has claimed that he can’t pay them fully since they were hired by Nyembe now.
Supa Mega owns 70 % of Beam Group and he is willing to pay his share of the taxes, however, he refuses to cover the costs of Nyembe’s Maserati.
When questioned about his expensive purchase, Nyembe has denied the allegations by saying that he used to own a similar car, but he has since sold it.
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